Lloyds Banking Group is closing in on a deal to take as much as 180,000 sq ft in Spinningfields, Manchester’s business district.
The bank, advised by CB Richard Ellis, is in advanced negotiations with Allied London for a new hub that would allow it to move some 2,000 of its North West staff to the city.
The letting would allow Allied to develop a circa 325,000 sq ft office building on one of the remaining plots of land at Spinningfields – 1 Hardman Square. However, this will be subject to funding being secured.
Lloyds is understood to have previously considered other sites in Manchester, including Argent’s and Greater Manchester Property Venture Fund’s proposed One St Peter’s Square.
Last year, Allied sold the freehold of 1 and 2 Hardman Square and 2 and 3 Hardman Boulevard to Manchester city council on the understanding that Allied would build a further 580,000 sq ft of offices and shops on the site by 2015.
A spokesman for Lloyds said: “We are continuously reviewing our property portfolio to make sure it best meets our needs. No decisions have been taken about any property changes in Manchester.”
